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/PRNewswire/ -- The "Automotive Plastics Market Size, Share & Trends Analysis Report By Product (Polypropylene, Polyvinyl Chloride), By Process (Injection...
Share this article Share this article ResearchAndMarkets.com's offering. The global automotive plastics market size is anticipated to reach USD 36.5 billion by 2027, registering a CAGR of 3.8% Rising preference for high-performance plastics to substitute conventional metals and rubber is expected to impel market growth. The polyurethane (PU) product segment is anticipated to witness significant growth over the forecast period owing to the ability of PU to infuse the characteristics of both plastic and rubber at a lower weight compared to metal and other plastic materials. Increasing product demand from the automotive industry for use in refrigeration insulation, interior trims, and seat cushioning is expected to boost market growth over the forecast period. On the basis of application, the market is segmented into power trains, electrical components, interior furnishings, exterior furnishings, under-the-hood components, and chassis. The power train segment is expected to witness the fastest CAGR over the forecast period. The rising application scope of plastics in powertrain engineering is expected to support the segment growth in the coming years.